MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Symantec Corp. (Nasdaq:SYMC), the world’s leading cyber security
company, today announced that it has entered into an agreement to
acquire U.S. and Israel-based Skycure, a leader in mobile threat
defense. Following completion of the acquisition, Skycure’s predictive
threat detection techniques will enrich Symantec’s enterprise and
consumer mobility offerings to help organizations more confidently
address the needs of the increasingly mobile workforce, enabling them to
ensure that devices are risk-free and secure while accessing corporate
resources.

Managed and unmanaged devices like tablets and smartphones are growing
in prevalence and flooding the workplace, introducing new risk and
vulnerabilities. Last year alone, Symantec’s researchers discovered more
than 600 new vulnerabilities on iOS and Android operating systems and
mobile malware detections doubled to a total of 18.4 million. To help
combat this, Skycure uses artificial intelligence and machine learning
techniques to deliver a single, unified solution that proactively
protects mobile devices across all major mobile operating systems,
delivering unparalleled depth of threat intelligence to predict and
detect the broadest range of threats.

Once Skycure is combined with Symantec’s Integrated Cyber Defense
Platform, Symantec’s customers will have access to comprehensive and
effective endpoint protection offerings across traditional and mobile
devices, with enhanced capabilities for mobile devices, applications,
network gateways and data protection. To date, Symantec has invested in
mobile security through SEP Cloud and Norton Mobile product lines. The
protection capabilities in those product lines will expand with this
acquisition and puts Symantec on the path to protect more than 1 billion
endpoints.

“One of the most dangerous assumptions in today’s world is that iOS and
other mobile devices that employees bring into the office are safe, but
the apps and data on these devices are under increasing attack. We
believe that tomorrow’s workforce will be completely mobile and will
demand a cyber defense solution that travels with them,” said Greg
Clark, Symantec CEO. “Mobile is a core component of our strategy and the
acquisition of Skycure is a major step forward in executing it.
Together, we will offer the cloud generation an integrated mobile cyber
defense architecture that will protect customers’ mobile devices and
networks across iOS, Android and Windows.”

Clark added, “The promise of a mobile threat defense that comes from a
combination like Skycure and Symantec is compelling. As we look ahead,
we believe the future is mobile-first and requires protection levels
that single platform vendors will struggle to provide on their own. Our
investments in this area will bring defense-in-depth across platforms
including closed operating systems.”

Adi Sharabani, Co-Founder and CEO of Skycure, said, “We are delighted to
join the Symantec team and are pleased that they recognize the value in
our Mobile Threat Defense solution, which allows us to get ahead of
attacks before they strike and defend against threats without infringing
on end user experience or privacy. Customers want mobile security
solutions that are easy to deploy and manage, and our threat protection
technology offering complements Symantec’s leading endpoint protection
solutions, making it easier for companies to embrace BYOD.”

With the addition of Skycure’s technologies, Symantec will also be
positioned to serve as a strategic partner for telecommunications
companies seeking to build comprehensive mobile security solutions for
their end users. Skycure also has validation from Global 2000 customers
in the healthcare and financial sectors.

The transaction is subject to customary closing conditions, and is
expected to close in the second fiscal quarter of 2017. Symantec expects
Skycure’s technologies to be available to its existing and new Endpoint
Protection and Norton Antivirus customers and partners soon after the
transaction closes. Financial terms of the transaction were not
disclosed.

About Skycure

Skycure is the leader in mobile threat defense. Skycure’s platform
offers unparalleled depth of threat intelligence to predict, detect and
protect against the broadest range of existing and unknown threats.
Skycure’s predictive technology uses a layered approach that leverages
massive crowd-sourced threat intelligence, in addition to both device-
and server-based analysis, to proactively protect mobile devices from
malware, network threats, and app/OS vulnerability exploits. Skycure
Research Labs have identified some of the most-discussed mobile device
vulnerabilities of the past few years, including App-in-the-Middle,
Accessibility Clickjacking, No iOS Zone, Malicious Profiles, Invisible
Malicious Profiles, WifiGate and LinkedOut. The company was founded by
security industry veterans Adi Sharabani and Yair Amit and is backed by
Foundation Capital, Shasta Ventures, Pitango Venture Capital, New York
Life, Mike Weider, Peter McKay, Lane Bess, and other strategic investors.

About Symantec

Symantec Corporation (NASDAQ:SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and families
rely on Symantec’s Norton and LifeLock product suites to protect their
digital lives at home and across their devices. Symantec operates one of
the world’s largest civilian cyber intelligence networks, allowing it to
see and protect against the most advanced threats. For additional
information, please visit www.symantec.com
or connect with us on Facebook, Twitter, and LinkedIn.

NOTE TO U.S. EDITORS: If you would like additional information on
Symantec Corporation and its products, please visit the Symantec News
Room at http://www.symantec.com/news.
All prices noted are in U.S. dollars and are valid only in the United
States.

Symantec, the Symantec logo and the Checkmark logo are trademarks or
registered trademarks of Symantec Corporation or its affiliates in the
U.S. and other countries. Other names may be trademarks of their
respective owners.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of U.S. federal securities laws, including expectations
regarding the acquisition of Skycure and the timeframe in which this
will occur and the expected benefits to Symantec, Skycure, and their
respective customers from completing the acquisition, including the
combination of Skycure’s mobile threat defense technology with
Symantec’s existing mobility offerings. These statements are subject to
known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievement to differ materially from
those expressed or implied in this press release. Such risk factors
include, among others, satisfaction of closing conditions to the
transaction, the ability of Symantec to successfully integrate the
merged business and achieve the expected benefits, and customer demand
for the integrated product offerings. Actual results may differ
materially from those contained in the forward-looking statements
contained in this press release. Additional information concerning these
and other risk factors is contained in the Risk Factors section
of Symantec's Form 10-K for the year ended March 31,
2017. Symantec assumes no obligation, and does not intend, to update any
forward-looking statement contained in this press release. In addition,
any forward-looking indication of plans for products is preliminary and
all future release dates are tentative and are subject to change. Any
future release of the product or planned modifications to product
capability, functionality, or feature are subject to ongoing evaluation
by Symantec, and may or may not be implemented. As such, statements
about such plans should not be considered firm commitments
by Symantec and should not be relied upon in making purchasing or
investment decisions.